RECORDING

Question 1

How to Record (2)

Answer 1

1. clerk files copy of deed

2. index in two indices (grantor index, grantee index)

Question 2

Grantor Index

Answer 2

transactions listed alphabetically by G’OR

note name of G’EE, desc of prop, volume/page where deed can be found

Question 3

Grantee Index

Answer 3

transactions listed alphabetically G’EE

note name of G’OR, desc of prop, volume/page where deed can be found

Question 4

Notice jurisdiction ((FLORIDA))

Answer 4

protects subsequent Grantees who are bona fide purchasers (take w/out notice for value)

((FLORIDA IS A PURE NOTICE JURISDICTION))

Question 5

Race jurisdiction

Answer 5

whoever records first takes

doesn’t have to be BFP

Question 6

Race-Notice Jurisdiction (2 part test)

Answer 6

1. take w/out notice

2. first to record

Question 7

*Identifying Recording Statute Strategy (3 steps)

Answer 7

1. look for words: “w/out notice” or “good faith”
   
   • either NOTICE or RACE-NOTICE
2. look for words: “1st recorded” or “recorded 1st”
   
   • RACE-NOTICE
   • if these words not present, NOTICE
3. if NO WORDS: “notice” or “good faith”
   
   • PURE RACE

Question 8

“Bargain Basement Sale” (BFP)

Answer 8

if purchaser pays WAY BELOW FMV, still considered “value”

Question 9

Transferree is: HEIR, DONEE, DEVISEE

Answer 9

cannot be BFP. cannot prevail over claim of earlier Grantee

Question 10

“Shelter Rule”

Answer 10

Anyone (even HEIRS, DONEES, DEVISEES) can SHELTER under the rights of a BFP

Question 11

Actual Notice (BFP)

Answer 11

actual notice of prior unrecorded is NOT BFP

SHELTER RULE STILL APPLIES

Question 12

Record Notice (BFP) (2)

Answer 12

1. gives constructive notice

2. recorded in buyers DIRECT CHAIN OF TITLE

Question 13

Inquiry Notice (BFP)

Answer 13

in order to be a BFP who takes WITHOUT NOTICE, the subsequent purchaser must EXAMINE the land and make an inquiry to any unexplained USES or POSSESSIONS

Question 14

Subsequent interests protected by recording

Answer 14

1. subsequent mortgagees -YES

2. judgement C’ors - NO

Question 15

Title Search (2 steps)

Answer 15

1. construct using GRANTEE INDEX
   (sellers grantor, then that persons grantor, etc..)
2. adverse each link using GRANTOR INDEX
   (look up name of last grantor in chain of title just constructed, see if person record any interest on property starting from the time they got property until the time they passed it- then repeat leading down to prospective seller)

Question 16

Title Searcher (“Legal Blinders”)

Answer 16

title searcher examines only the actions taken by a Grantor during the period of RECORD OWNERSHIP (not before or after)